Demand: There is supply and buyers willing and able to purchase the inventory. Opportunity.
Rarity: When there is a limited supply property in particular locations and more buyers want this type, there may still be more demand. Missed sales if the inventory is sold out.
Condition: Affects the demand. If there is a lot of work needed for the property to be in demand, the price needs to be low enough to enable the buyer to pay for repairs and not be paying over the market price. No sale if price is not right.
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New Guidelines for Real Estate Agents
Evolution of the Property Market in Mexico“Our real estate market has new challenges. The idea of working as an agent to sell property is easy and does not require any formal training or employment by any company, is now behind us. Today the Mexican market has its own rules. The real estate professional cannot improvise these rules, but instead, he must stay up to date with the changes in order to offer a higher quality of service. Clients are becoming better educated. They are ready to ask many questions and can no longer be easily fooled.”
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When Pricing Moves Away From Fundamentals
Behavioral Biases in Real Estate MarketsOne of the most interesting asset classes where we see the very pronounced influence of behavioral biases is in real estate. Why is real estate such a ripe area for behavioral biases? Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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Sales Stats for January 1 – July 1, 2019
Puerto Vallarta Real Estate Market UpdateCONDOMINUMS continue to be the most popular real estate product, as far as FBS MLS stats go. Our reports can show us prior year comparisons to show us in relation to last year or other years, how have we done so far, this first half of 2019. Emiliano Zapata Most Popular Area. Again, the highest US dollar volume of sales is Zona Romantica, or Emiliano Zapata, on the south side of the Rio Cuale. Estimates indicate there are another 500 preconstruction units approved, in addition to what we see already being built.
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Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
USA/Canada: +1 (504) 298-6730
Puerto Vallarta: +52 (322) 223-4027
Puerto Vallarta Cel: +52 (322) 205-7550
